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Steve Norman

@snormtrader.bsky.social

39 followers 17 following 750 posts

Trader of financial instruments and creator of programs for trading them. Trade ideas are just my own opinion and not recommendations. www.for-exe.com

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Steve Norman @snormtrader.bsky.social · Aug 25

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Steve Norman @snormtrader.bsky.social · 1h

#NASDAQ H1: we just about made a new ATH in the early hours, so if this TLB D holds, I'll be aiming for the blue TZ1, just beyond ADR. As for DOW though, there could be a bigger ABC to come but all in all, it's looking good for another new ATH

Steve Norman @snormtrader.bsky.social · 1h

#DOW H1: not much change from the H4 review. SDFing on H1 but it still needs to SDF ydays high - the M15 S. If price can do that, M15 TZ1 will be a fine magnet, then perhaps a test of the ATH. On the other hand, we could be in for a deeper correction, if only to the SR pivot. Neutral for now.

Steve Norman @snormtrader.bsky.social · 9h

#DOW H4: also a good move up, which was good for Bot 🙂 FE127 and supply as resistance - a strong PRZ. With the way the Be Mo bars have been smashed/flipped, I'll stick with looking for the MM up for a new ATH - but let's see how today goes as this is a no-trade zone for now.

Steve Norman @snormtrader.bsky.social · 9h

#DAX H1: Supply resistance and 62% of the down move, makes this a strong PRZ, but yday's move up looks strong enough to push through. At time of blah, I'll be looking for a dip to buy: perhaps 38% of the up in confluence with the FVG, as shown.

Steve Norman @snormtrader.bsky.social · 9h

#DAX D1: rocket! With that move and a close at the high of the day, it would be reasonable to be looking for more up: TLMS T1 W5 at supply is the main magnet for us, once the correction has completed

Steve Norman @snormtrader.bsky.social · 1d

#NASDAQ H1: (1) resistance and a strong PRZ to make strong magnets of the many red TZs: M15 is the best option for the bears today. However, this has been a fairly strong move back up the 25K and I think the ATH supply might be a stronger magnet than the red TZs

Steve Norman @snormtrader.bsky.social · 1d

#NASDAQ D1: still playing CIM inside the Be Mo Bar but similar thoughts as for the DOW HTF review, this morning. IF the bulls can smash the Mo bar supply, we have the potential for MM to hit the TLMS W5 T1. For now we wait and see ...

Steve Norman @snormtrader.bsky.social · 1d

#DOW H1: SR pivot just above then supply and FE62, which looks like fair game for today. M15 TZ1 also in ADR but there's some heavy traffic for traders to deal with before then

Steve Norman @snormtrader.bsky.social · 1d

#DOW H4: still looking for MM up, as discussed last week, but this could be a flat 4 down. Fundamentals, courtesy of OT, would suggest a lot more down but the bulls are clearly defending their positions. I'll be watching for that red zone to be flipped; if not, it will be 45k & red TZ2 calling.

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Steve Norman @snormtrader.bsky.social · 1d

#DOW Weekly: inside week with PA remaining bullish, as long as the SDF zone holds for support. The Bu Mo Bar, that took out 6 weeks of up, is about the same size as the previous 2: they didn't stop the bulls, so I'll keep looking up, despite the obvious need for a correction

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Steve Norman @snormtrader.bsky.social · 1d

#DAX H1: that D1 wick just shows as an ABC FE62 SDF reversal - not so bullish. This could be a 1 up; it could just be correction in the Be MF - I'll be chicken on the fence this morning. FE100 & 127 to the upside are within ADR; a test of D for the bears also an option. I'd like a good 1-2 up.

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Steve Norman @snormtrader.bsky.social · 1d

#DAX D1: Friday gave us the very big DR wick (ref weekly) from the TLMS 1: that has me reaching for the bull hat, at least as long as the Friday low holds for support. Not much else to add so let's s see how today goes

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Steve Norman @snormtrader.bsky.social · 1d

#DAX Weekly: still in TLBT mode with DR from the TLB D, and still in the same bloody range that was created in June, yawn! 25K remains the goal.

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Steve Norman @snormtrader.bsky.social · 4d

#DOW H1 (instead of the usual H4 at this time): NY AM session was a pig to trade , with markets waiting until after LC to give us a good move - as has so often been the case, waiting for OT social media gibberish in ALL CAPS. FE100 current support but there's a nice cluster of magnets below ...

Steve Norman @snormtrader.bsky.social · 4d

#DAX H1: SR pivot is current support: looking for a break below with lower target just within ADR for today and it's a strong SR pivot for the bears to aim for.

Steve Norman @snormtrader.bsky.social · 4d

#DAX D1: upper channel no longer holding for support and bears looking strong. 62%R is a good magnet and PRZ for a possible reflex bounce; FE100 also in a good spot for a test of the TLMS 1 up.

Steve Norman @snormtrader.bsky.social · 5d

#NASDAQ H1: M15 Supp' & TZ1 PRZ. Whilst 25k remains fair game, as does the FE100, it seems sensible to be looking for another leg down, at least while price is sticking below the TLMS (1). Red H4 TZ1&2 beyond ADR for today but if bears come out with the bell, the red M15 TZ2 is well within range

Steve Norman @snormtrader.bsky.social · 5d

#DOW H1: really struggling with this one but M15 had a pretty good TLB down, from a reflex bounce, to make M15 red TZ1 the favourite - even more so seeing as price couldn't close above supply. Very tricky PA though, so I won't rule out the FE127 just yet

Steve Norman @snormtrader.bsky.social · 5d

#DOW H4: same thoughts as yday, except for the CPI being rescheduled to 24th Oct. The Be FVG flip & TLBT w/DR makes the FE127 look good. The FE100 holding as resistance makes the FE127 less likely. I'll keep the bull hat on for now, unless we get a solid close back below the Be FVG.

Steve Norman @snormtrader.bsky.social · 5d

#DAX H1: range-bound PA continues, inside the WOWC gap with SR pivot S. The late-sesh DR wick could be fuel-enough for the bulls & blue M15 TZ2, if the low holds of course; otherwise we have M15 red TZ2 and H1 TZ2 straddling the ADR B - which in itself is @ support. Wait-and-see what LO brings.

Steve Norman @snormtrader.bsky.social · 5d

#DAX D1: another Be day with downside rej' around 24k again. It's still MTLBT, with strengthening of the upper channel as support. No change from yday then - still looking for 25k

Steve Norman @snormtrader.bsky.social · 6d

#NASDAQ: if TLMS 4 smashed, I'll look to the 25k in conf' with TLMS 1. Price has spent a lot of time correcting the Friday bomb so (like DOW) we should be looking for more down to the TZ2 (beyond ADR today). M15 TZ2 is in a fair spot for today, if the bell brings out the bears. Eyes on the 4 R.

Steve Norman @snormtrader.bsky.social · 6d

#DOW H1: ABC FE100 in the supply of the Friday bomb & SR pivot. In theory, we should be looking for another move down but (for bulls) FE127 or M15 TZ1 at supply cont'. I'll stick with the Be bias for now. I see CPI has been rescheduled, due to the crazy shutdown: now 24th instead of tomorrow.

Steve Norman @snormtrader.bsky.social · 6d

#DOW H4: TACO PA? Strong Be move reversed for a TLB, so we could look for MM (supported by Fib Pro Clusters) as shown but need a close above yet. I suspect we'll be kept waiting for CPI tomorrow. Weekly shows gap up SDF, after that mini crash - 50k calling, despite the OT calamity? Crazy world!

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Steve Norman @snormtrader.bsky.social · 6d

#DAX H1: strong support from 24k. evidenced by the WOWC Bu Mo Bar and gap up. M15 TZ1 in a great spot - I think that could hold for R and more range-game-PA; if not, then blue M15 TZ2. IF (big IF) the bears can smash 24k the red TZs are obvious magnets - a consideration for tomorrow, perhaps.

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